BIZINSIDER · 2026-11-02 10:50 UTC

Binance's record-shattering $6.3 billion hack is a gut check for crypto

Binance disclosed a $6.3 billion hack where attackers broke into an engineer's laptop and accessed the exchange's digital wallets; about $3 billion has been frozen by other firms, leaving $3.3 billion under hacker control. Binance says it will cover losses with company reserves and has replenished 95% of stolen assets, with withdrawals resuming in phases starting with major assets like bitcoin and ether. The hack pushed bitcoin to six-week lows and wiped billions in value from crypto-linked stocks, raising questions about security vulnerabilities and asset concentration on centralized…

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